Page 171 - Microsoft Word - 00 ACCA F1 Notes Prelims.docx

Chapter 11

Governance and social responsibility in
business

Outcome

By the end of this session you should be able to:

 explain the concept of separation between ownership and control

 explain the agency concept in relation to corporate governance

 define corporate governance and social responsibility and explain their
importance in contemporary organisations

 explain the responsibility of organisations to maintain appropriate standards of
corporate governance and corporate social responsibility

 briefly explain the main recommendations of best practice in effective corporate
governance: executive and non-executive directors, remuneration committees
and public oversight

 explain how organisations take account of their social responsibility objectives
through analysis of the needs of internal, connected and external stakeholders

 identify the social and environmental responsibilities of business organisations
to internal, connected and external stakeholders

 explain the purpose of committees

 explain the types of committees used by business organisations

 list the advantages and disadvantages of committees

 explain the roles of the Chair and Secretary in a committee

and answer questions relating to these areas.

The underpinning detail for this Chapter in your Notes can be found in
Chapter 11 of your Study Text

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